Listed Transactions

[Guest MERISA]

I'm trying to find out what most EB professionals advise their clients to do if it is unclear whether an arrangement is a listed transaction. Do you advise filing a Form 8886 "just in case" even though it is likely to trigger an audit? Or do you advise against filing a Form 8886 and plan on asking for an abatement if the IRS ever imposes a penalty under 6707A? (If it helps, this relates to a 412(i) plan.) Thanks in advance.

[GBurns]

I have never heard of anyone having a problem deciding if an item was a listed transaction. It always is that it is either listed or it is not. I find the list to be very clear. However, there could be some difficulty in deciding if an item is a reportable transaction or not. Two different issues.

In any case, I do not think that EB professionals are equipped to render advice in this area. It is a matter for a specialized tax professional, and preferably a lawyer rather than an EA.